Support Our Sponsor
. . Flags of the World Maps of All Countries

  • |SEARCH|
  • |Main INDEX|
  • 2006 INDEX
  • Country Ranks
  • DEFINITIONS

    Romania Index 2006

    Romania Main Index


    . Feedback
  • geographic.org Home PageCountry Index

    Romania Economy - 2006
    http://www.theodora.com/wfbcurrent/romania/romania_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      Economy - overview:
      Romania began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. Despite the global slowdown in 2001-02, strong domestic activity in construction, agriculture, and consumption have kept GDP growth above 4%. An IMF standby agreement, signed in 2001, has been accompanied by slow but palpable gains in privatization, deficit reduction, and the curbing of inflation. The IMF Board approved Romania's completion of the standby agreement in October 2003, the first time Romania has successfully concluded an IMF agreement since the 1989 revolution. In July 2004, the executive board of the IMF approved a 24-month standby agreement for $367 million. IMF concerns about Romania's tax policy and budget deficit led to a breakdown of this agreement in 2005. In the past, the IMF has criticized the government's fiscal, wage, and monetary policies. Meanwhile, macroeconomic gains have only recently started to spur creation of a middle class and address Romania's widespread poverty, while corruption and red tape continue to handicap the business environment. Romanian government confidence in continuing disinflation was underscored by its currency revaluation in 2005, making 10,000 "old" lei equal 1 "new" leu.

      GDP (purchasing power parity):
      $186.7 billion (2005 est.)

      GDP (official exchange rate):
      $72.09 billion (2005 est.)

      GDP - real growth rate:
      4.5% (2005 est.)

      GDP - per capita (PPP):
      $8,400 (2005 est.)

      GDP - composition by sector:
      agriculture: 13.1%
      industry: 33.7%
      services: 53.2% (2004 est.)

      Labor force:
      9.31 million (2005 est.)

      Labor force - by occupation:
      agriculture: 31.6%
      industry: 30.7%
      services: 37.7% (2004)

      Unemployment rate:
      5.5% (2005 est.)

      Population below poverty line:
      25% (2005 est.)

      Household income or consumption by percentage share:
      lowest 10%: 2.4%
      highest 10%: 27.6% (2003)

      Distribution of family income - Gini index:
      28.8 (2003)

      Inflation rate (consumer prices):
      8.6% (2005)

      Investment (gross fixed):
      23.5% of GDP (2005 est.)

      Budget:
      revenues: $29.97 billion
      expenditures: $31.37 billion; including capital expenditures of $2.2 billion (2005 est.)

      Public debt:
      21.1% of GDP (2005 est.)

      Agriculture - products:
      wheat, corn, barley, sugar beets, sunflower seed, potatoes, grapes; eggs, sheep

      Industries:
      textiles and footwear, light machinery and auto assembly, mining, timber, construction materials, metallurgy, chemicals, food processing, petroleum refining

      Industrial production growth rate:
      2.5% (2005 est.)

      Electricity - production:
      51.7 billion kWh (2003)

      Electricity - consumption:
      45.16 billion kWh (2003)

      Electricity - exports:
      3.3 billion kWh (2003)

      Electricity - imports:
      380 million kWh (2003)

      Oil - production:
      119,000 bbl/day (2005 est.)

      Oil - consumption:
      235,000 bbl/day (2003 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Oil - proved reserves:
      1.055 billion bbl (1 January 2002)

      Natural gas - production:
      12.3 billion cu m (2003 est.)

      Natural gas - consumption:
      18 billion cu m (2003 est.)

      Natural gas - exports:
      0 cu m (2001 est.)

      Natural gas - imports:
      5.4 billion cu m (2001 est.)

      Natural gas - proved reserves:
      100.7 billion cu m (1 January 2002)

      Current account balance:
      -$9.541 billion (2005 est.)

      Exports:
      $27.72 billion f.o.b. (2005 est.)

      Exports - commodities:
      textiles and footwear, metals and metal products, machinery and equipment, minerals and fuels, chemicals, agricultural products

      Exports - partners:
      Italy 21.4%, Germany 15%, France 8.5%, Turkey 7%, UK 6.6% (2004)

      Imports:
      $38.15 billion f.o.b. (2005 est.)

      Imports - commodities:
      machinery and equipment, fuels and minerals, chemicals, textile and products, basic metals, agricultural products

      Imports - partners:
      Italy 17.2%, Germany 14.9%, France 7.1%, Russia 6.8%, Turkey 4.2% (2004)

      Reserves of foreign exchange and gold:
      $22.77 billion (2005 est.)

      Debt - external:
      $29.47 billion (2005 est.)

      Currency (code):
      leu (ROL) is being phased out in 2006; "new" leu (RON) was introduced in 2005 due to currency revaluation: 10,000 ROL = 1 RON

      Exchange rates:
      lei per US dollar - 3 (2005), 3 (2004), 3 (2003), 3 (2002), 3 (2001)

      Fiscal year:
      calendar year


      NOTE: The information regarding Romania on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Romania Economy 2006 information contained here. All suggestions for corrections of any errors about Romania Economy 2006 should be addressed to the CIA.

    Support Our Sponsor

    Support Our Sponsor

    Please ADD this page to your FAVORITES - - - - -


    http://www.theodora.com/wfbcurrent/romania/romania_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


    CTR060106